UK Photovoltaic Market Research Report By Type (Organic PV, Inorganic PV)- Forecast to 2035

UK Photovoltaic Market Overview

As per MRFR analysis, the UK Photovoltaic Market Size was estimated at 3.42 (USD Billion) in 2023. The UK Photovoltaic Market Industry is expected to grow from 3.62(USD Billion) in 2024 to 7.08 (USD Billion) by 2035. The UK Photovoltaic Market CAGR (growth rate) is expected to be around 6.3% during the forecast period (2025 - 2035)

Key UK Photovoltaic Market Trends Highlighted

The UK Photovoltaic Market is experiencing significant growth due to rising awareness of renewable energy and government support. Key market drivers include the government's commitment to reducing carbon emissions and increasing the share of renewable energy in the national grid. With policies aimed at achieving net-zero emissions by 2050, the installation of solar energy systems is actively promoted, creating a favorable environment for market expansion. 

Furthermore, advancements in solar technology have improved the efficiency and affordability of photovoltaic systems, making them more accessible to homeowners and businesses alike. There is also an increased emphasis on energy independence among consumers, prompting more individuals to consider solar installations as a means to generate their own electricity and reduce utility bills. The UK photovoltaic market offers promising opportunities, particularly in urban locations where rooftop solar installations can optimize space efficiency. The economic viability of solar investments is further enhanced by initiatives such as the Smart Export Guarantee, which enables users to sell excess energy back to the utility, thereby further incentivizing the adoption of solar power. 

The trend toward sustainability has remained a significant focus for both individuals and corporations in recent years. Increasingly, businesses are adopting solar energy solutions to achieve their sustainability objectives. A growing interest in community solar initiatives is also observed in the United Kingdom, which promotes collaboration among residents and businesses to collectively harness solar energy for mutual benefit. In general, these trends emphasize a significant transition toward the integration of solar energy into the energy sector of the United Kingdom.

   

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

UK Photovoltaic Market Drivers

Government Incentives and Support

The UK government has been an ardent supporter of renewable energy initiatives, particularly solar energy. The introduction of schemes like the Smart Export Guarantee and other financial incentives for businesses and homeowners encourages the adoption of photovoltaic systems across the nation. According to the Department for Business, Energy & Industrial Strategy (BEIS), the UK solar capacity increased to approximately 13.3 gigawatts (GW) in 2020, which signifies an approximate 20% growth from previous years.

These initiatives are anticipated to further boost the UK Photovoltaic Market Industry, fostering rapid expansion as the government targets net-zero emissions by 2050. The commitments by the UK government to renewable energy create a favorable economic environment, bolstering investments in technology and infrastructure to support solar energy use.

Decreasing Costs of Photovoltaic Technology

As technological advancements continue, the cost of photovoltaic systems, including solar panels and associated technologies, has been declining significantly. The UK Photovoltaic Market Industry has observed a 60% decrease in the price of solar photovoltaic panels over the last decade. 

This is supported by data from the International Renewable Energy Agency (IRENA), which reports that the average global cost of solar photovoltaic systems fell from around USD 0.48 per watt in 2010 to approximately USD 0.18 per watt in 2019.This trend is expected to resonate in the UK market, allowing a broader demographic to invest in solar energy, thus driving market growth.

Growing Awareness of Climate Change

Increasing awareness regarding climate change and environmental sustainability among the UK population is promoting the uptake of renewable energy solutions, including solar power. Public sentiment increasingly leans towards adopting cleaner energy sources to mitigate climate risks, as shown by a 2021 survey by the UK Climate Change Committee, which indicated that 67% of respondents would support transitioning to renewable energy sources, such as solar power.

This rising awareness is anticipated to stimulate demand, making the UK Photovoltaic Market Industry an attractive option for future investments.

Technological Advancements in Energy Storage

The evolution of energy storage solutions, notably in battery technology, significantly enhances the UK Photovoltaic Market Industry. Improved storage systems allow consumers to store excess energy generated during peak sunlight hours for later use, thus maximizing the efficiency of photovoltaic systems. 

According to the UK Energy Storage Network, the installed capacity of energy storage systems in the UK reached approximately 2.5 gigawatt-hours (GWh) in 2020, witnessing a substantial increase from the previous year.These advancements are likely to create a more resilient renewable energy infrastructure, further driving the expansion of the photovoltaic market in the region.

UK Photovoltaic Market Segment Insights

Photovoltaic Market Type Insights

The UK Photovoltaic Market has shown robust growth dynamics, particularly in the Type segment, which is comprised of Organic PV and Inorganic PV technologies. The increasing shift towards sustainable energy sources has driven significant investments in photovoltaic technologies, contributing to the growth of the UK Photovoltaic Market revenue. Organic PV is noted for its flexibility and potential in various applications, such as building-integrated photovoltaics, which enables novel design possibilities and the integration of solar energy in urban environments.This type of technology, while still emerging, has the potential to capture niche markets and appeal to environmentally conscious consumers, thereby fostering a new wave of energy solutions within the UK. 

In contrast, Inorganic PV remains the dominant segment widely recognized for its efficiency and established technology paths. This segment benefits from economies of scale and extensive research, leading to improved performance and cost reductions over time. The focus of the UK government on renewable energy initiatives and incentives is further enhancing the prospects for both types, fostering innovation and adoption.As the country strives to meet its renewable energy targets, the market segmentation of the UK Photovoltaic Market, particularly through Organic and Inorganic PV technologies, provides critical opportunities for growth and development, attracting investments and encouraging advancements in solar energy solutions. 

With an increasing emphasis on sustainability and the decarbonization of the energy sector, both segments play significant roles in fulfilling the UK's ambitious energy goals while addressing climate change concerns. Additionally, as more homeowners and businesses recognize the benefits of photovoltaic installations, the solutions offered by these two types are becoming integral to the wider renewable landscape, often highlighted in UK Photovoltaic Market Statistics as essential contributors to energy diversification and security.The government's commitment to green energy transitions and the synchronization with market trends further positions the Type segment as a crucial area for future endeavors in the UK renewable energy framework. 

As stakeholders continue to explore innovative technologies, the potential for both Organic and Inorganic PV to contribute towards the decarbonization of the economy is increasingly promising, making them not only significant but also essential for the sustainable energy landscape in the UK.

   

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

UK Photovoltaic Market Key Players and Competitive Insights

The UK Photovoltaic Market has experienced significant growth and transformation in recent years, driven by declining costs of solar technology, government incentives, and increasing awareness of renewable energy. This evolution has led to a highly competitive environment where numerous players are vying for market share. The landscape is characterized by a mix of established companies and emerging players, all striving to capitalize on the rising demand for sustainable energy solutions. 

Factors such as technological advancements, regulatory frameworks, and consumer preferences heavily influence competition within the market, compelling companies to innovate and adapt their strategies. As the UK continues to focus on achieving its renewable energy targets, understanding the competitive dynamics becomes essential for stakeholders aiming to succeed in this sector.Sonnedix has established a robust presence in the UK Photovoltaic Market, leveraging its expertise in solar energy production and project development. The company focuses on operational excellence, maintaining a portfolio of solar photovoltaic assets that showcase high levels of efficiency and reliability. 

One of the strengths of Sonnedix is its strong commitment to sustainability and continuous investment in technologically advanced solar solutions, which helps it stay ahead of the competition. Sonnedix operates numerous solar plants across the UK and aims to expand its footprint while ensuring compliance with local regulations and sustainability goals. This dedication not only bolsters its market position but also enhances its reputation as a reliable energy provider, further strengthening customer relationships and stakeholder trust.Canadian Solar has also made notable strides in the UK Photovoltaic Market, showcasing a diverse range of solar products and services. 

The company is recognized for its high-performance solar modules and comprehensive energy solutions, which cater to both residential and commercial sectors. Canadian Solar's strength lies in its extensive research and development efforts, allowing it to provide cutting-edge technology that meets the specific needs of the UK market. The company's proactive approach to establishing strategic partnerships and engaging in mergers and acquisitions has further solidified its market presence and competitive edge in the region. 

By actively expanding its capabilities and product offerings, Canadian Solar remains well-positioned to meet the increasing demand for solar energy in the UK, contributing significantly to the growth of the renewable energy sector while fostering sustainability initiatives.

Key Companies in the UK Photovoltaic Market Include

• Sonnedix


• Canadian Solar


• Trina Solar


• Solarcentury


• SunPower


• Octopus Energy


• Enphase Energy


• First Solar


• Lightsource bp


• SMA Solar Technology


• Vivint Solar


• JinkoSolar


• Longi Green Energy

UK Photovoltaic Market Industry Developments

The UK Photovoltaic Market has recently seen significant developments, particularly in the realm of solar energy solutions. In September 2023, Lightsource bp announced a partnership aimed at expanding its solar projects within the UK, further illustrating the increasing investment in renewable energy sources. In October 2023, Canadian Solar revealed its enhanced manufacturing capabilities in the UK, contributing to a growing domestic supply chain. Current market trends indicate a robust growth trajectory, driven by increased demand for sustainable energy solutions among consumers and businesses, supported by government incentives outlined in the UK's energy policy strategies. 

Firms like First Solar and JinkoSolar are advancing their footprint through innovative technologies aimed at enhancing energy efficiency. While there have been no recent mergers or acquisitions reported among the specified companies in the UK, the general market valuation has seen notable growth, indicative of the sector's resilience and potential, strengthened by major projects and advancements in solar technology. Over the past two to three years, regulatory support has significantly accelerated the deployment of renewable projects, with considerable increases in installation capacities noted, particularly in residential and commercial sectors.

UK Photovoltaic Market Segmentation Insights

Photovoltaic Market Type Outlook

• Organic PV


• Inorganic PV

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	3.42(USD Billion)
MARKET SIZE 2024	3.62(USD Billion)
MARKET SIZE 2035	7.08(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.3% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Sonnedix, Canadian Solar, Trina Solar, Solarcentury, SunPower, Octopus Energy, Enphase Energy, First Solar, Lightsource bp, SMA Solar Technology, Vivint Solar, JinkoSolar, Longi Green Energy
SEGMENTS COVERED	Type
KEY MARKET OPPORTUNITIES	Increased government incentives, Advancements in solar technology, Growing consumer awareness, Rising energy costs, Expansion of commercial installations
KEY MARKET DYNAMICS	growing demand for renewable energy, governmental incentives and subsidies, technological advancements in solar panels, declining installation costs, energy independence and security
COUNTRIES COVERED	UK